The African Export-Import Bank and the International Islamic Trade Finance Corporation have partnered with the African Organisation for Standardisation to launch a new Arab-Africa Trade Bridges Programme initiative called the Harmonisation of Standards for Pharmaceutical and Medical Devices in Africa, to enhance intra-African trade, reduce substandard counterfeit products, and build resilient regional health systems.
According to a release distributed by APO on behalf of ITFC, the AATB pact is aimed at promoting the quality and safety of medicines and medical devices imported or produced on the continent.
It said, “Harmonised product standards are critical to the implementation of the African Continental Free Trade Agreement, ensuring that producers of goods on the continent comply with one shared set of minimum regulatory and customer quality requirements, in turn allowing them to supply the continental market and beyond with goods that meet those standards. The harmonisation of standards also serves to enhance the quality of African manufacturing and boost intra-African and Arab-African trade and investment – one of the AATB’s key objectives.”
The initiative, which will be implemented in phases over three years, begins immediately with the harmonisation of standards for pharmaceutical products and medical devices for use in the ongoing COVID-19.
The second phase is said to analyse and assess existing international, regional and national standards for their suitability in meeting the unique challenges faced by African healthcare industries before achieving the third phase, which is the harmonisation of the related African standards and their adoption on the continent.
Commenting on the initiative, ITFC CEO, Hani Sonbol, said, “From a trade development standpoint, harmonising the standards of pharmaceutical products and medical devices in Africa is a crucial first step in facilitating local production and trade within sector. Such standards provide a necessary baseline from which to regulate the sector more effectively, raising the quality of locally-produced life-saving drugs and related products, and ensuring timely access to appropriate and affordable medicines, vaccines and other health services for those who need them most.
“It will also act as a catalyst for Africa to benefit from a burgeoning pharmaceutical sector, expanding trade opportunities locally and beyond borders, thus creating long term sustainable socio-economic impact on the continent.”
The initiative will also serve to enhance trade and investment within Africa’s healthcare industry by boosting the manufacture of high-quality homegrown products and services – objectives laid out within the AfCFTA.
Welcoming the initiative, Afreximbank’s Managing Director of the Intra-African Trade Initiative, Mrs. Kanayo Awani, said, “At a time the demand for quality medicines and medical devices is increasing, Africa needs to reinforce regional value chains to scale up the supply of quality medical products. This would also contribute to building the continent’s resilience against pandemics like COVID-19 in the future. Further, leveraging on the AfCFTA, this joint initiative will also facilitate increased intra-African trade in pharmaceuticals and medical consumables.”
As part of a COVID-19 response, the harmonisation of standards will facilitate the development of equivalent technical regulations among African countries. Therefore, distribution of medical supplies and equipment from one country to another can be fast-tracked.
A long-term outcome of the initiative will be the emergence of regional supply chains for pharmaceutical and medical devices, which will foster an ecosystem of innovation, local production and the development of medical products for diseases that are currently neglected.
ARSO’s Secretary General, Dr. Hermogene Nsengimana, said, “While on one hand COVID-19 has created social distancing as a new norm, on another hand, it has brought Africa together by opening our eyes to the need for industrialisation. Standards circulated by ARSO and other organisations related to face masks, and hand sanitisers have been used widely by African SMEs to develop locally-made Personal Protective Equipment, thereby shedding light on the role of standards in industrialisation, safety, and trade. This Initiative with Afreximbank and ITFC will not only help in increasing local production, but will also create trust and enable cross border trade and investment for pharmaceutical products and medical devices.”
